The earthquake caused enormous damage to New Zealand

An aerial view shows the rise of the seabed by 2 – 2.5 meters after a powerful earthquake in New Zealand. The amount of damage from a powerful earthquake that occurred on 13 November in New Zealand, will be at least $ 1.5 billion.

As a natural disaster will affect the economic strategies of New Zealand in the long term, the local authorities do not predict. But I emphasize that of course the budget, which is currently in surplus, will feel the effects of the cataclysm.

New Zealand’s national seismological service GeoNet upgraded the initial assessment of the earthquake with magnitude of 7.5 to 7.8. The epicenter of the tremors was located on the South island, but the aftershocks will continue to shake the country, including the capital, Wellington.